Post-effective amendment to a registration statement that is not immediately effective upon filing

INCOME TAX (Tables)

v3.23.1
INCOME TAX (Tables)
11 Months Ended 12 Months Ended
Dec. 02, 2021
Dec. 31, 2022
Schedule of net deferred tax assets  

​

​

​

​

​

​

​

​

​

​

December 31, 

​

​

2022

    

2021

Deferred tax assets:

 

​

​

 

​

​

Investment in P3 LLC

​

$

20,684

​

$

—

Net operating loss carryforwards

​

 

17,601

​

 

6,922

Accrued liabilities

​

​

2,764

​

​

3,307

Goodwill and identifiable intangible assets

​

​

589

​

​

—

Section 163j interest limitation

​

 

1,995

​

 

1,232

Other deferred tax assets

​

 

94

​

 

3

Total deferred tax assets

​

 

43,727

​

 

11,464

Less: valuation allowance

​

 

(43,558)

​

 

(9,621)

Net deferred tax assets

​

 

169

​

 

1,843

Deferred tax liabilities:

​

 

​

​

 

​

Other deferred tax liabilities

​

​

(150)

​

​

(87)

Operating lease, right-of-use assets

​

​

(19)

​

​

—

Goodwill and identifiable intangible assets

​

 

—

​

 

(1,756)

Total deferred tax liabilities

​

 

(169)

​

 

(1,843)

Net deferred tax asset

​

$

—

​

$

—

​

Schedule of income tax provision (benefit)  

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Successor

​

​

Predecessor

​

​

Year Ended

​

December 3, 2021

​

​

January 1, 2021

​

    

December 31,

  

through December 31,

​

​

through December 2,

​

    

2022

    

2021

  

  

2021

Current income taxes:

​

​

​

​

​

​

​

​

​

​

Federal

​

$

111

​

$

—

​

​

$

—

State

​

​

1,751

​

​

—

​

​

​

—

Total current income taxes

​

$

1,862

​

$

—

​

​

$

—

Deferred income taxes:

​

​

​

​

​

​

​

​

​

​

Federal

​

​

—

​

​

—

​

​

​

—

State

​

​

—

​

​

—

​

​

​

—

Total deferred income taxes

​

​

—

​

​

—

​

​

​

—

Total income tax expense

​

$

1,862

​

$

—

​

​

$

—

​

Schedule of reconciliation of federal statutory income tax rate  

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Successor

​

​

Predecessor

​

​

Year Ended

​

December 3, 2021

​

​

January 1, 2021

​

​

​

December 31,

​

through December 31,

​

​

through December 2,

​

​

​

2022

  

2021

  

  

2021

​

Tax at federal statutory rate

​

$

(327,536)

​

$

(12,166)

​

​

$

(30,744)

​

Non-controlling interest and nontaxable income

​

 

260,020

​

 

8,359

​

​

 

30,744

​

Change in valuation allowance

​

 

33,961

​

 

2,832

​

​

 

—

​

Investment in P3 LLC

​

 

35,147

​

 

1,550

​

​

 

—

​

Other reconciling items

​

​

270

​

​

(575)

​

​

​

—

​

Total

​

$

1,862

​

$

—

​

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

Effective tax rate

​

 

(0.1)

%  

 

—

%  

​

 

—

%

​

Foresight Acquisition Corp    
Schedule of net deferred tax assets

​

​

​

​

​

​

​

​

​

​

December 2, 

​

December 31, 

​

    

2021

    

2020

Deferred tax assets

 

​

  

 

​

  

Net operating loss carryforward

​

$

38,800

​

$

480

Startup/Organization Expenses

​

 

4,728,629

​

 

—

Total deferred tax assets, net

​

 

4,767,429

​

 

480

Valuation Allowance

​

 

(4,767,429)

​

 

(480)

Deferred tax assets, net of valuation allowance

​

$

—

​

$

—

​

 
Schedule of income tax provision (benefit)

​

​

​

​

​

​

​

​

​

​

For the period from

​

For the period from

​

 

January 1, 2021 through

 

August 20, 2020 (inception)

​

 

December 2,

 

through December 31,

​

    

2021

    

2020

Federal

 

​

  

 

​

  

Current

​

$

—

​

$

—

Deferred benefit

​

 

(4,773,438)

​

 

(480)

State and Local

​

 

  

​

 

  

Current

​

 

—

​

 

—

Deferred

​

 

—

​

 

—

Change in valuation allowance

​

 

4,773,438

​

 

480

Income tax provision

​

$

—

​

$

—

​

 
Schedule of reconciliation of federal statutory income tax rate

​

​

​

​

​

​

​

​

​

December 2, 

​

December 31, 

 

​

    

2021

    

2020

​

Statutory federal income tax rate

 

21.00

%  

21.00

%

State taxes, net of federal tax benefit

 

0.00

%  

0.00

%

Change in fair value of warrant liabilities

 

(1.76)

%  

0.00

%

Transaction costs incurred in connection with IPO

 

0.00

%  

0.00

%

Fair value of warrant liability in excess of proceeds from Private Placement

 

0.00

%  

0.00

%

Change in valuation allowance

 

(19.24)

%  

(21.00)

%

Income tax provision

 

0.00

%  

0.00

%

​